Chubb Limited $CB Shares Sold by Texas Permanent School Fund Corp

by · The Markets Daily

Texas Permanent School Fund Corp reduced its stake in Chubb Limited (NYSE:CBFree Report) by 31.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,457 shares of the financial services provider’s stock after selling 13,747 shares during the period. Texas Permanent School Fund Corp’s holdings in Chubb were worth $8,534,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. 1248 Management LLC bought a new position in Chubb during the 1st quarter worth $31,000. WPG Advisers LLC bought a new stake in Chubb in the first quarter valued at $33,000. VSM Wealth Advisory LLC acquired a new position in shares of Chubb during the second quarter valued at $32,000. Maseco LLP bought a new position in shares of Chubb during the second quarter worth about $35,000. Finally, Access Investment Management LLC acquired a new stake in shares of Chubb in the 2nd quarter worth about $41,000. 83.81% of the stock is owned by institutional investors.

Chubb Stock Performance

CB opened at $312.58 on Tuesday. The business has a 50 day moving average price of $288.79 and a two-hundred day moving average price of $282.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $123.02 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 3.52 and a beta of 0.51. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $313.04.

Chubb (NYSE:CBGet Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $12.95 billion. During the same quarter in the previous year, the business earned $5.72 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Research analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, December 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is 16.19%.

Analyst Upgrades and Downgrades

CB has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Chubb in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their price target on Chubb from $277.00 to $293.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Keefe, Bruyette & Woods increased their price objective on Chubb from $333.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $309.00 target price on shares of Chubb in a research report on Monday, October 27th. Finally, Citigroup boosted their price target on Chubb from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chubb has an average rating of “Hold” and an average price target of $310.20.

View Our Latest Stock Report on Chubb

Insider Transactions at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 10,580 shares of Chubb stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $296.17, for a total value of $3,133,478.60. Following the transaction, the executive vice president owned 12,660 shares in the company, valued at approximately $3,749,512.20. The trade was a 45.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph F. Wayland sold 5,830 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the completion of the transaction, the executive vice president directly owned 60,593 shares in the company, valued at $18,000,968.44. This represents a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 57,333 shares of company stock valued at $16,629,873 in the last quarter. Insiders own 0.86% of the company’s stock.

About Chubb

(Free Report)

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

Further Reading

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